TOP Ships Inc. Announces Spin-Off of Rubico Inc.

SEC Filing 6-K (0001171843-25-004875)

TOP Ships Inc. (NYSE American: TOPS) announced the expected distribution date for the common shares of Rubico Inc. as August 1, 2025. Rubico common shares are anticipated to commence trading on the Nasdaq Capital Market on August 4, 2025, under the ticker 'RUBI'. The spin-off involves two of TOP Ships' vessels, the M/T Eco Malibu and M/T Eco West Coast, both modern, high specification, scrubber-fitted, and fuel-efficient 157,000 dwt Suezmax tankers. TOP Ships intends to distribute 100% of Rubico's common shares pro rata to its securityholders of record as of June 16, 2025. The NYSE American established an ex-distribution date for the distribution of Rubico common shares as June 16, 2025. Rubico has filed a registration statement on Form 20-F with the SEC, providing detailed terms of the spin-off.